The government of India on Wednesday extended the 20 per cent duty on export of parboiled rice beyond March 31.
The government in August last year had imposed a 20 per cent duty on the export of parboiled rice, a move aimed at maintaining adequate local stock and keep domestic prices under check. It was later extended till March 31, 2024.
In a notification, the finance ministry said the 20 per cent export duty will continue beyond March 31 without an end date.
Besides, duty-free import of yellow peas, too, has been extended beyond March 31, subject to the condition that the bill of landing is issued on or before April 30, 2024.
India’s retail inflation eased to 5.10 per cent on an annual basis as against a four-month high of 5.69 per cent in December, data released by the Ministry of Statistics & Programme Implementation showed earlier this month.
India’s rice production is estimated to have risen to 135.54 million tonnes in the 2022-23 crop year (July-June) from 129.47 million tonnes in the previous year, according to the agriculture ministry data.